Solar Power Pricing – Magenta, NSW, 2261

Magenta Solar Power Systems

As at August 2022, Magenta solar power installations have taken place on 5,117 homes (postcode area 2261).

Magenta has 22,940 homes so that equals a solar penetration of 22%.

This is lower than the state average of New South Wales which has a statewide solar household penetration of 31%. So Magenta is a bit behind compared to the rest of the state.

The best performing suburb in New South Wales when it comes to the proportion of homes that have had solar power systems installed is Berrigal with a solar household penetration of 66%.

With statewide solar household penetration of 31%, New South Wales is almost there compared to the rest of the country which has solar penetration of 34%.

 

Magenta Solar Power Statistics:

Number of homes: 22,940

Number of homes with solar: 5,117

Household solar power system penetration: 22%

Statewide household solar power penetration: 31%

National household solar  power penetration: 34%

We estimate that last year, the homeowners in Magenta collectively saved $8,607,351 off their power bills! That’s money going straight back into the local Magenta community.

 

Solar Panels Magenta Pricing Information

According to our research, the average price for a 6.6kW solar system in Magenta is $4,000.

For a well performing solar system in Magenta, we estimate that the electricity generated will be approximately 24 kWh/day.

If 50% of the 24kWh is consumed in the home, and the remainder exported into the electricity grid, we estimate that the annual saving on a typical power bill is $1,953 per year.

This represents a simple payback time of 2.0 years which is a pretty good return on investment.

Solar Finance in Magenta

We estimate that when financing a $4,000 solar system in Magenta over 5 years, that the cost of finance in year 1 will be around $973.

This is based on an interest rate of 8% calculated monthly and without taking into account any possible extra charges like establishment fees or admin fees. Of course you need to check these numbers with a professional financial advisor.

Even still this means you may be able to install solar for zero deposit AND it is still cash flow positive. What we mean by “cash flow positive”, is that the amount saved by the solar system installation over one year is greater than the cost of financing that same solar system.

 

Government Solar Rebate in Magenta

Solar systems installed in Magenta on residential and commercial buildings are likely to be eligible for a Government rebate under the Federal Government’s Small Technology Certificate (STC) scheme.

The STC rebate is determined by your location in Australia and the size of the solar system that is being installed.

So if you install a 10kW solar system in Magenta, you are categorised in Zone 3 and likely to be eligible for a $4,588 rebate.

The advertised price and the amount you pay or finance is generally after the STC rebate has been removed from the gross price of the solar system.

The price of the STC does fluctuate so best to keep that in mind too.

Naturally conditions apply to obtaining an STC rebate so it is best to talk to a solar professional.

 

Optimal Solar Panel Placement in Magenta

In Magenta, it is best to face your solar panels north at an angle of 33deg. Having said that, the majority of Australian roofs don’t generally have the perfect roof for panel placement so don’t be too stressed if your roof is not optimally orientated with the correct roof pitch.

 

How Does Magenta Compare with its Neighbours?

Here is how Magenta compares with its neighbours:

Blue Haven is ahead with a solar penetration of 30%

Canton Beach is ahead with a solar penetration of 29%

Balcolyn is ahead with a solar penetration of 36%